Some re-work needs to be done around the explanation of the location of ...

Some re-work needs to be done around the explanation of the location of design and manufacturing. The sentence addressing this only speak to manufacturing plants, which one might assume is not where the products are designed, and the part about "in the only two China-based plants wholly-owned..." is fairly incomprehensible. Is this implying the Luxottica is the owner of those two China-based plants?

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The company is very diversified in its product line-up and distribution....

The company is very diversified in its product line-up and distribution. However, the fact that more than half of its sales are derived from the US market is likely to be a problem. Luckily, growing demand for luxury items in China and India, as well as in parts of Africa, should dampen the blow to the company's performance in the near future.